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20110701
20110731
Search Results 0 to 7 of about 8 (some duplicates have been removed)
fitsity still. there's no legislative language. it looks like what could be a pretty big tax increase. the spending cuts i think are highly uncertain. it instructs the various committees of the senate and the house to come up with these spending cuts. we have no assurance that they will do that. we have no idea how they'll do that. then we asked the senate to vote on that. all of which suggests to me there are a number of ways in which this could fall apart. i give these guys all the credit in the world for really struggling and trying to make some progress on a tough issue. there's no assurance that it results in an outcome. if we can't agree on spending cuts now, why should we suppose at the end of this process which after all has been available to us for two years the senate won't even pass a budget, why we think that this will result in real spending cuts is not clear to me. >> the other dynamic here is the mcconnell-reid proposal. that is going to get to the floor at some point. now the idea of being that the gang of six proposal is too late to be scored by cbo to really be put i
the media has not done a good job portraying how big the taxes are to them. a lot of the member haves a religious fervor that any type of tax increase is not acceptable. boehner going from $800 billion in revenue could beรง explainedo go up to $1.2 trillion which is white house suggested that wasn't a number is still open to debate was something is that boehner saw it as one aide told me impossible, a dis, they couldn't move it at all. >> one of if big issues is what are the markets saying and how are they reacting? it's been muted so far. i've talked to people, finance people who basically say that wall street is looking at this and saying both sides are talking about cutting spendsing and reducing the overall debt. so the conversation is at least focused on what they want to see and there's still a belief that they'll get it done before this is all over. i wanted to play a little bit of hillary clinton. she has been traveling throughout the world in asia, in hong kong today. this was her attempt tory assure the markets. >> very interesting choice of words from her. >> as i have tra
. there is -- there aren't that many big differences between the boehner plan and the reid plan other than one critical difference which is under john boehner's plan, we would be right back in this mess right at the holiday season, having this same debate, creating uncertainty in the economy at one of the most critical times for the economy, the holiday season. we don't want to do that. that's the wrong thing to do. that's not just the president's opinion. that's just not the opinion of independent financial analysts. that was actually john boehner's opinion and eric cantor's opinion just a few weeks ago when they were making the same case the president is making. >> true enough, but there is plenty of precedent for short-term debt ceiling limits being raised. aside from ruining all of our holidays, what's the damage in revisiting this six months from now? is the president really, when it comes down to it after the warning from all the big bankers, is he going to veto a short-term increase? >> there are two points. first is we are in a completely different situation now than we have ever been. there ha
to continue to spend hundreds of billions of dollars on subs cities for big oil companies, on tax cuts for the rich and on corporation tax loopholes, they are not interested in balanced budgets. they are interested in one thing and one thin only, making the rich much, much richer and making the middle class much, much poorer. that is why you get delay after delay after delay. that is why as the clock runs out instead of meeting in the middle they are lurching further and further to the extreme right wing. >> congressman, i know that -- we've heard political talking points from both sides. at this stage of emergency the american people want to see some action, the president said there is rough agreement between the two parties and likely the democrats and republicans in the senate are going to have to engage in negotiations with joe biden and others. where do you see this negotiation going? is the white house willing to concede a shorter term debt ceiling extension and deal with the two trenches that have been agreed to? where do you see it coming down? >> with all due respect this is n
Search Results 0 to 7 of about 8 (some duplicates have been removed)